Property Overview:
250 Chestnut Ave is a duplex in Palo Alto, CA, built in 1920 with 1,716 sq. ft. of living space. The property is zoned R1 (Single Family) but currently features two 2BR/1BA units plus bonus area. Includes a parking garage, fireplace, and cooling system. The estimated home value is $3,246,000. Offers flexibility: live in one unit and rent the other, rent both, or combine into a single-family home.
Neighborhood Highlights:
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Crime Rate:
- Personal crime risk: 3.9% (lower than state average of 11.8%)
- Property crime risk: 5.3% (lower than state average of 10.8%)
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Schools:
Nearby schools: El Carmelo Elementary, Jane Lathrop Stanford Middle, Palo Alto High, Greendell- Average SAT score: 1221 (higher than state average of 975)
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Job Market:
- 77.4% white-collar jobs, 22.6% blue-collar jobs
- Unemployment rate: 2.2% (lower than state average of 4.7%)
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Demographics:
- Community population: 22,332 (18% growth since 2000)
- 56% families with children
- Largest age group: 45-54 years (16.92%)
- Second largest: 35-44 years (14.54%)
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Natural Disaster Risk:
- Moderate flood risk, low tornado risk, high earthquake risk
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Weather:
- Average temperature: 51.8°F (January), 89.0°F (July)
- Average rainfall: 16.5 inches/year
- Average snowfall: 0.1 inches/year
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Cost of Living:
- Median household income: $93,826
- Average annual spending: $66,240
Property Features:
- Rare 2-unit property in a tree-lined single-family neighborhood
- Ultimate flexibility:
- Live in one unit & rent the other
- Rent both units
- Combine into a single-family home
- Bonus space and two well-converted storage rooms in the backyard
- Well-equipped kitchens and private laundry in each unit
- Nicely built deck in the backyard
- Steps from Boulware Park
- Walking distance to California Avenue business district and Caltrain station
- Close to Stanford and major hi-tech companies
- Distinguished Palo Alto schools
Location Benefits:
- Prime Palo Alto location with top-rated schools
- Family-friendly community with strong job market and low crime
- Excellent commuter access to business districts, transit, and Stanford
- Great investment or owner-user opportunity in a highly desirable area